Save Your Money (SYM), a fintech startup that offers an automated micro-saving platform, has been acqui-hired by health-tech startup Good Methods Global (GMG), a company statement said.
SYM was founded by five third-year engineering students from the Muthoot Institute of Technology and Science in Ernakulam, Kerala – Aravind Muraleedharan, Vivek S, Abin Alias, Aswin Dev and Sarah Abraham.
While Muraleedharan and Abraham will be part of Good Methods’ quality assurance team, Vivek S will join the company’s engineering team, the press note added.
SYM was developed as part of the Startup Village Collective’s (SV.CO) digital learning programme. The programme helps campus students create startups, build prototypes, and launch them to early customers, while they undergo their engineering education.
“Students who are building campus startups pick up engineering, design and product skills which are in demand in the industry. We have previously acquired another team from SV.CO and that has worked out really well for us, with one of the top students now working out of our US office,” said Abhilash Krishna, founder and chief executive of Good Methods Global.
In 2016, Good Methods had acqui-hired peer-to-peer lending platform Creditoflux from SV.CO’s 2015 batch. The startup is currently operating in the US to expand Good Methods Global’s business operations.
Kerala- and US-based startup Good Methods Global Inc had raised its Series A funding round led by venture capital firm Accel Partners in May this year. Including this round, Good Methods has raised over $9 million so far.
Good Methods has engineered a cloud-based practice management platform for the health and wellness industry in the US. The first area of focus is dentistry, where its clientele includes large dental groups and multi-location practice chains.
The company was founded in 2015 by Krishna, Arjun Satheesh, Jayasooryan KV, Kevin Cook and Varun Nelson. It now employs 150 people, and is looking to hire 100 more employees within the next six months. The Good Methods team is spread across Thiruvananthapuram in Kerala, and Florida and Texas in the US.
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